Banks well-placed to win back business from fintechs, says Oliver Wyman

Two-thirds of people would use a traditional bank if similar products and prices are on offer

By

Samuel Agini

August 29, 2019 11:18 am GMT

Traditional banks can still rely on high levels of trust to win back customers from innovative fintech challengers, according to a report from consultancy Oliver Wyman.

In a survey of 5,000 people across the UK, Spain, France, Germany and Italy, Oliver Wyman found that two-thirds would be willing to use a traditional bank for the same service as a fintech start-up, if the product and price was similar.